All Forum Posts by: Azeez K.

@Robert Collins HOA restriction is always something to consider when investing in townhomes. The HOA has the controlling power over your investment i.e. they could change the rules for rentals. Generally, speaking townhomes are not good due to restriction, multiple owners. Unless you have a controlling interest in the HOA I would not consider a townhome. Hope this helps

@N'neka I will PM you some banks in Atlanta.

Hi @Keyur Patel

Are you looking for attorney that specialize in Residential, Commercial? I will PM you with the info. Thanks

Hi @Mark Romano

The answer depends on the type of property and if it units are individually metered. Generally speaking

1. Gas - Paid by tenants

2. Electricity - Paid by tenants

3. Water - Most smaller rentals in Atlanta don't have separate water meters as such the landlord pays for the water. Now based on historical water bill you could include it in your rent but you will eventually end up paying water

4. Property Taxes - Landlord

5. Sewer Taxes - Landlord

6. Cable/Internet - Tenant

7. Insurance - Landlord but included in your numbers

8. Renters Insurance (recommended) - Tenant 

9. Lawncare - Depends on the property. I typically pay for lawncare on multi's. Single Family let the tenant's take care of it. If they don't I send my lawncare guy and charge the tenants for the same.

10. Application/Tenant Screening Fees - Tenant

11. ACH Fees if any typically paid by tenant

12. Re-key fees - Tenant

13. Property management - Landlord built in your numbers 

Again the above depends on the lease, property, tenant/landlord relationship. I am speaking in general terms. Hope this helps. 

Hi @N'neka Scruggs

Welcome to BP you have come to the right place. If you are looking for Buy and Hold check out Beginners Guide to Buy and Hold.  Land is always tricky and you need to have good cash position. For example if you are simply buying land you will have to pay it in cash. "Never lever land". You would also need to have a clear exit strategy i.e. are you going to develop it, simply file permits and try to sell it. Although Land with billboard rental sounds good but there are a lot of things to consider. You will have your money tied up in dirt and unless you have a clear strategy for exit and good cash position there are just a whole lot of things to consider like any investment.  Below are few tips that would be helpful for a new member. Also check out events and happenings around you by clicking on the link

How to Use @Mentions on BiggerPockets

Tip # 2: Setting up Keyword Alerts

Tip # 3: 25 Tips for Real Estate Success

Tip # 4: Check out the Start Here page

Tip # 5: Check out BiggerPockets Ultimate Beginner's Guide

Tip # 6: Listen to BiggerPockets PodCastDon't know which one to listen first..listen to BiggerPockets Podcast 108: Building a 350 million Real Estate empire using the 10X rule with Grant Cardone

Tip #7: Votes

Tip#8: BP Webinars

Hi @Ryan I have done a few rezoning on properties here in Atlanta. Generally, I let my expeditor/Architect deal with all the rezoning requirements. I have found my time is better spent leaving it to the people who know ins and out rather than doing the heavy lifting. If you are working to get this done on  your own I suggest getting someone onnyour team who is familiar working w City of Atlanta. I can provide you names if you need.

Good luck

@Bryan Mitchell ~6 week process as 

@Paul C. mentioned. Good luck and much success.

@Bryan Mitchell - You may want to look at small local banks. Georgias Own is one you may want to look into they offer upto 80% LTV. Hope this helps.

Hi @Brad Wood

Congrats on your duplex. I use Quickbooks Pro to manage all my books. Pro-tip you can hire a bookkeeper/accountant and get on their wholesale plan that way the pricing is a lot cheaper for Quickbooks. Also when setting up Quickbooks just make sure your tenants can pay using ACH or Debit cards that way there is no transaction fees or else you will pay a lot in transaction fees. 

Also take a look at stessa for portfolio management. However, for accounting it's very very basic and you can't collect rent. If you are thinking from a long term perspective have a professional set up your Quickbooks right the first time. 

Hope this helps

Hi @Kevin Polite

Check this article https://atlanta.curbed.com/2018/10/8/17949738/atla...

There have been a lot of price reduction. I have a flip in 30310 and I had to reduce the price on that by 15K and still crickets. In general I see there is little movement things have certainly slowed down and I believe it could be attributed to the timing along with changes in the interest rates. Even my new constructions in 30316 have had price reductions. Generally, things are slowing down. 

Good luck